Dividend Policy, Agency Costs, and Earned Equity
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Why do firms pay dividends? If they didn't their asset and capital structures would eventually become untenable as the earnings of successful firms outstrip their investment opportunities. Had they not paid dividends, the 25 largest long-standing 2002 dividend payers would have cash holdings of $1.8
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美国国家经济研究局创建时间：
2004-07-01
